WALCHAND PEOPLEFIRST  LIMITED
BALANCE SHEET AS AT MARCH 31, 2006
			As At	As At
			31.03.2006	31.03.2005
	Schedule		Rupees in Lacs	Rupees in Lacs
SOURCES OF FUNDS :
SHAREHOLDERS' FUND
Share Capital	A	284.89		284.89
Reserves & Surplus	B	1136.81		1,134.29
			1,421.70	1,419.18
LOAN FUNDS
Secured Loans	C		14.42	2.44
	TOTAL		1,436.12	1,421.63
APPLICATION OF FUNDS :
FIXED ASSETS
Gross Block	D	545.19		523.75
Less : Depreciation		202.96		189.90
NET BLOCK			342.23	333.85
Investments	E		634.13	495.99
Current Assets, Loans And
Advances
Sundry Debtors	F	65.85		32.66
Cash and Bank Balances	G	134.45		87.95
Other Current Assets	H	7.15		0.89
Loans and Advances	I	520.74		619.09
		728.19		740.60
Current Liabilities and Provisions
Current Liabilities	J	145.56		67.00
Provisions	K	122.87		86.80
		268.43		153.81
NET CURRENT ASSETS			459.76	586.80
Miscellaneous Expenses
( To the extent not written off)
			-
Deferred Revenue Expenses			-	4.99
	TOTAL		1,436.12	1,421.63
NOTES FORMING PART OF ACCOUNTS	O
As per our separate report  attached.
For Haribhakti & Co.		PALLAVI JHA
Chartered Accountants		Chairperson & Managing Director
		M. N. BHAGWAT
		Director
		V K VERMA
		Director
CHETAN DESAI
Partner		SANJAY JHA
		Director
		KAMALINI BAHUBALI
		Director
		SANDHYA MALHOTRA
		Company Secretary
		SADANAND MARATHE
		Associate Vice President - Finance
Mumbai
Date : 28th April 2006